Question 8.139

42. Student loans. The Pew Research Center (www.pewresearch.org) reports that the mean student loan amount in 2010 was $26,682. Suppose a sample of 41 students had a sample mean loan amount of $26,682 and a sample standard deviation student loan amount of $20,000. Do the following:

  1. State how the conditions for the interval for are met.
  2. Find for a confidence interval with 90% confidence.
  3. Construct and interpret a 90% confidence interval for the population mean student loan amount.